Social Impact Bonds (SIB) have been the topic of discussion for nonprofit organizations seeking to fund programs and serve the community at large. The federal government has issued a number of these bonds as a means to improve and ensure the achievement of outcomes for poor and vulnerable populations around the country.
In the article titled, The Potential and Limitations of Impact bonds: Lessons from the first 5 years of experience worldwide it states: “Impact bonds bring together elements of these various strains of thinking and policy action into one instrument. Over the past five years, since the first SIB was implemented, an exponential growth in the number of deals has occurred in the developed world. While we are still in the very early stages of this market with much remaining to see and learn, our examination of 38 existing deals provides grounds for cautious optimism.”
As the federal government and nonprofit providers continue to seek innovative ways to finance and deliver services more efficiently and cost-effectively, SIBs will have more of a presence among nonprofit organizations. However, the requirements of tracking the progress of service delivery, outcomes and impact will most certainly rise with the onset of SIBs. If you are an organization that has received an SIB, CaseWorthy™ is the state of the art innovative advanced case management software solution you need to help you demonstrate your outcomes and satisfy the requirements established for SIB recipients.
To learn more about CaseWorthy™ and what it can do for your nonprofit organization, please call (877) 347-0877 to speak with a CaseWorthy, Inc., representative or visit us at www.CaseWorthy.com